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The economy of Iraq is dominated by the oil sector, which has provided about 99.7% of foreign exchange earnings during its modern history. As of 2021, the oil sector provides about 92% of foreign exchange earnings. Iraq's hitherto agrarian economy underwent rapid development following the 14 July Revolution (1958) which overthrew the Hashemite Iraqi monarchy. It had become the third-largest economy in the Middle East by 1980. This occurred in part because of the Iraqi government's successful industrialization and infrastructure development initiatives in the 1970s, which included irrigation projects, railway and highway construction, and rural electrification.
The Oil-for-Food Programme (OIP), established by the United Nations in 1995 was established to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary Iraqi citizens without allowing Iraq to boost its military capabilities.
Iran and the United States have had no formal diplomatic relations since April 7, 1980. Instead, Pakistan serves as Iran's protecting power in the United States, while Switzerland serves as the United States' protecting power in Iran. Contacts are carried out through the Iranian Interests Section of the Pakistani Embassy in Washington, D.C., and the US Interests Section of the Swiss Embassy in Tehran. In August 2018, Supreme Leader of Iran Ali Khamenei banned direct talks with the United States.
Benon Vahe Sevan was the head of the United Nations' Oil-for-Food Programme, established in 1996 and charged with preventing Iraq's government from using the proceeds from oil exports for anything but food, medicine and other items to benefit the civilian population.
United Nations Security Council resolution 1483, adopted on 22 May 2003, after recalling all previous resolutions on the situation between Iraq and Kuwait, the Council lifted trade sanctions against Iraq and terminated the Oil-for-Food Programme.
Tongsun Park is a former South Korean lobbyist. He was involved in two political money-related scandals: Koreagate scandal in the 1970s, and the Oil-for-Food Program scandal of the 2000s. Park had a reputation as the "Asian Great Gatsby".
The sanctions against Iraq were a comprehensive financial and trade embargo imposed by the United Nations Security Council (UNSC) on Iraq. They began August 6, 1990, four days after Iraq's invasion of Kuwait, stayed largely in force until May 22, 2003, and persisted in part, including reparations to Kuwait. The original stated purposes of the sanctions were to compel Iraq to withdraw from Kuwait, to pay reparations, and to disclose and eliminate any weapons of mass destruction (WMD). In December 2021, Iraq's central bank announced that it had paid off its entire debt of $52 billion in war reparations to Kuwait.
AWB Limited was a major grain marketing organisation based in Australia. Founded in 1939 by the Government of Australia as the Australian Wheat Board, in 1999 it became a private company, owned by wheat growers. It was acquired by Agrium in 2010.
The rationale for the Iraq War, both the 2003 invasion of Iraq and the subsequent hostilities, was controversial. The George W. Bush administration began actively pressing for military intervention in Iraq in late 2001. The primary rationalization for the Iraq War was articulated by a joint resolution of the United States Congress known as the Iraq Resolution. The US claimed the intent was to "disarm Iraq of weapons of mass destruction, to end Saddam Hussein's support for terrorism, and to free the Iraqi people".
United Nations Security Council resolution 986, adopted unanimously on 14 April 1995, after reaffirming all resolutions on Iraq and noting the serious humanitarian situation with the Iraqi civilian population, the council, acting under Chapter VII of the United Nations Charter, established a mechanism whereby Iraqi oil exports would finance humanitarian aid to the country, which later became known as the Oil-for-Food Programme.
The Cole Inquiry, formally the Inquiry into certain Australian companies in relation to the UN Oil-For-Food Programme, was a Royal Commission established by the Australian government pursuant to the Royal Commissions Act 1902 to investigate "whether decisions, actions, conduct or payments by Australian companies mentioned in the Volcker Inquiry into the United Nations Oil-for-Food Programme breached any Federal, State or Territory law."
Iran–United Kingdom relations are the bilateral relations between the United Kingdom and Iran. Iran, which was called Persia by the West before 1935, has had political relations with England since the late Ilkhanate period when King Edward I of England sent Geoffrey of Langley to the Ilkhanid court to seek an alliance.
Iraq, officially the Republic of Iraq, is a country in Western Asia. It is bordered by Turkey to the north, Iran to the east, the Persian Gulf and Kuwait to the southeast, Saudi Arabia to the south, Jordan to the southwest and Syria to the west. The capital and largest city is Baghdad. The Iraqi people are diverse; mostly Arabs, as well as Kurds, Turkmen, Assyrians, Armenians, Yazidis, Mandaeans, Persians and Shabakis with similarly diverse geography and wildlife. Most Iraqis are Muslims – minority faiths include Christianity, Yazidism, Mandaeism, Yarsanism and Zoroastrianism. The official languages of Iraq are Arabic and Kurdish; others also recognised in specific regions are Turkish (Turkmen), Suret (Assyrian), and Armenian.
The United States has since 1979 applied various economic, trade, scientific and military sanctions against Iran. United States economic sanctions are administered by the Office of Foreign Assets Control (OFAC), an agency of the United States Department of the Treasury. Currently, United States sanctions against Iran include an embargo on dealings with the country by the United States, and a ban on selling aircraft and repair parts to Iranian aviation companies.
Diplomatic relations between Syria and the United States are currently non-existent; they were suspended in 2012 after the onset of the Syrian Civil War. Priority issues between the two states include the Arab–Israeli conflict, the Golan Heights annexation, and the Iraq War.
The Oil-for-Food Program Hearings were held by the U.S Senate Permanent Subcommittee on Investigations beginning in 2004 to investigate abuses of the United Nations (UN) Oil-for-Food Programme in which the economically sanctioned country of Iraq was intended to be able to sell limited amounts of oil in exchange for vital food and medicine for its population.
There have been a number of sanctions against Iran imposed by a number of countries, especially the United States, and international entities. Iran was the most sanctioned country in the world until it was surpassed by Russia following its invasion of neighboring Ukraine in February 2022.
The AWB oil-for-wheat scandal refers to the payment of kickbacks to the regime of Iraqi president Saddam Hussein in contravention of the United Nations Oil-for-Food Humanitarian Programme. AWB Limited is a major grain marketing organisation based in Australia. For much of the 20th and early 21st century, it was an Australian Government entity operating a single desk regime over Australian wheat, meaning it had the sold ability to export Australian wheat, which it paid a single, fixed price for. In the mid-2000s, it was found to have been, through middlemen, paying kickbacks to the regime of Saddam Hussein, in exchange for lucrative wheat contracts. This was in direct contradiction of United Nations Sanctions, and of Australian law.
United Nations Security Council Resolution 1957, adopted unanimously on 15 December 2010, after recognising positive developments in Iraq since the adoption of 661 (1990), the Council lifted sanctions relating to weapons of mass destruction, long-range ballistic missiles, and the acquisition of nuclear weapons.
Christophe de Margerie was a French businessman. He served as the chairman and chief executive officer of French oil corporation Total S.A.
References
- 1 2 "Samir Vincent Bio, Stats, and Results". Olympics at Sports-Reference.com. Archived from the original on 18 April 2020. Retrieved 15 August 2017.
- ↑ "BBC NEWS - World - Middle East - Q&A: Oil-for-food scandal". news.bbc.co.uk. 7 September 2005. Retrieved 15 August 2017.
- 1 2 3 "BBC NEWS - World - Middle East - US man admits Iraq oil charge". news.bbc.co.uk. 18 January 2005. Retrieved 15 August 2017.
- 1 2 "Opinion & Reviews - Wall Street Journal".
- ↑ "BBC NEWS - Middle East - Timeline: Oil-for-food scandal". news.bbc.co.uk. 7 September 2005. Retrieved 15 August 2017.
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